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News - Canton Fair Reflects Changing Mood

 

Canton Fair Reflects Changing Mood

Canton Fair

The rise in the number of participants in the latest China Import and Export Fair, known as the Canton Fair, which kicks off on Thursday, is a clear indication that business confidence has bounced back following the global financial crisis, organizers said.

"This session of the fair, the country's largest trading expo, has attracted 22,960 Chinese export enterprises, up 1,026 from the previous session," said Chen Chaoren, a spokesman for the fair.

"And some 399 foreign enterprises from 27 countries and regions, including eight from four less-developed countries, will exhibit in the international pavilion," he said.

The 107th session of the fair, which has long been a key barometer of China's foreign trade, opens on Thursday in Guangzhou, the capital of southern Guangdong province.

"Their enthusiasm for joining the exhibition signals their great confidence in this year's export situation," Chen said.

China's exports grew for the fourth straight month in March, up 24.3 percent year-on-year to $112.11 billion, while imports rose 66 percent to $119.35 billion, according to figures released Saturday by the General Administration of Customs.

Total foreign trade in the first quarter rose 44.1 percent to $617.85 billion, the customs figure showed.

Among the 22,960 Chinese export enterprises, private companies account for 62 percent, 19 percent are foreign-funded enterprises and the remaining 10 percent are State-owned enterprises, according to the organizer.

The organizing committee of Canton Fair organized 145 investment promotion activities in 28 countries and regions during the past six months to attract exhibitors and visitors.

In addition, due to the Chinese government's call to further boosting domestic consumption, the fair will also help Chinese export enterprises explore the domestic market.

The organizer said about 70 percent of Chinese export enterprises are willing to do business in the domestic market.

However, unlike the last two sessions, the fair will not have specific centers or times for dealers from domestic market to do business. They can directly negotiate with companies that intend to do business in the domestic market.

The 107th session of Canton Fair will be held in three phases. The first will be held from Thursday to Monday, the second from April 23 to 27, and the third from May 1 to 5. 

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